Talk of The Villages Florida - Rentals, Entertainment & More
Talk of The Villages Florida - Rentals, Entertainment & More
#61
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Crypto implosion at FTX. The emperor has no clothes. When they tell you everything if fine it’s time to run away.
Sam Bankman-Fried No Longer a Billionaire After $14.6B Overnight Wipe-out |
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#62
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#63
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I would absolutely take the 40 yr experienced CFA (NOT a CFP) over the self-made billionaire with an MIT degree. That just tells me he is an excellent engineer that managed to fill a very large, previously-unfilled, niche in the market. It doesn't tell me he knows a fig about financial theory and the inner workings of the money industry. It tells me he knows how to make a motherboard. As a guy with an advanced degree from a private Division I university, I will tell you, I don't give a whole lot of weight to if / where someone went to college. MIT is no different, it doesn't have the cache with everyone you think it does. Nor do any of the ivies.
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Chino 1960's to 1976, Torrance, CA 1976-1983, 87-91, 94-98 / Frederick Co., MD 1983-1987/ Valencia, CA 1991-1994/ Brea, CA 1998-2002/ Dana Point, CA 2002-2019/ Knoxville, TN 2019-Current/ FL 2022-Current |
#64
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engineering used the physical laws of nature, which have very specific properties and very, very narrow std deviations of differences, validated over and over again. finance and economics are abstract concepts, finance about valuations based upon the future. Economics is about how humans manage money and make decisions about money, which has very large standard deviations, and results from the conceptual thoughts and feelings emanating from the brain. neither is smarter than the other, but different yes, and seldom do these skills cross over very well into the other area of expertise but you are all free to believe whatever you want to believe philosophy guy |
#65
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BTC is sub $17K right now, it's tough being a bull at this point in history!
Joe |
#66
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perfect chart of hot company and then mismanages cash flow through greed and other insider enrichment schemes, and now they are near zero and will be bankrupt within a year nothing new with crypto currency, other than its a thieve's currency |
#67
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“How did you go bankrupt?” Bill asked.
“Two ways,” Mike said. “Gradually and then suddenly.” The dialogue above is from Ernest Hemingway’s 1926 novel, The Sun Also Rises |
#68
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After reading many of the comments on The Yahoo site regarding the collapse, I thought this was the best and most relevant quote.
""If $14.6 billion was wiped out overnight, I'm guessing it was never really there to begin with."" |
#69
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Video for thinking people...Fitting after the mid-term election.
https://www.youtube.com/watch?v=ZcjFrIMw2sI https://www.youtube.com/watch?v=uix5BrzMTBM Time to withdrawal consent? Last edited by MorTech; 11-10-2022 at 09:32 AM. |
#70
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lol! Yup!
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#71
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SBF will be serving some jail time. Are the Bahamian jails nicer than those in the US?
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#72
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“It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so,” said Mark Twain……..
Seems like that quote applies to this mess. I never had any interest in this type of investment — never smelled right to me…….but I do recall a couple of threads on here that were rather mocking of more traditional investors who either showed no interest or pointed out the potential for collapse. CNBC can’t seem to talk about anything else this morning. The emperor is buck nekkid. Boomer |
#73
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Some things are difficult to see coming, but this wasn’t.
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#74
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As far as any belief in engineering credentials can override human behavior, doesn't matter, behavioral economics rules, which has nothing to do with economic equations. . . |
#75
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Understanding the Bitcoin dynamic requires high-order conceptual thinking ability as well as higher-order finance. All others can do is just watch their television to be told what to think by people who are trying to own them.
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Closed Thread |
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